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Luxury furniture is commonly made up of different kinds of material such as metal, wood, glass, plastic, leathers and others (rattan, concrete, fabric, polyurethane, acrylic, fibre and stone). Wood holds the maximum market share, as wood is used majorly in the luxury furniture. Designing things on wood is easy, and is a natural and easily available raw material around the world. The market of wood furniture is expected to reach $2,229.3 million by 2022, growing at a CAGR of 3.3% during the forecast period.
Due to technological breakthroughs and fast growing job market, especially in the developing regions has given rise to better standards of living. The noticeable growth in the disposable income has allowed individuals to spend more on luxurious products. As per Office for National Statistics (ONS), gross disposable household income (GDHI) per person has increased in all regions of the U.K. between 2012 and 2013. GDHI in U.K. for 2013 increased near about 5% as compared to 2012. Therefore, the growth in the disposable income would be a major factor that would drive the market for luxury furniture.
The report highlights the adoption of Luxury Furniture in Europe. Based on Materials, the market is segmented into Metal, Wood, Plastic, Glass, Leathers, Others. Based on End User, the Luxury Furniture market is segmented into Residential and Commercial Market. According to the usage, the Residential market is segmented into Kitchen, Living & Bedroom, Bathroom, Outdoor, Lighting segments; the commercial market is segmented into Office, Hospitality and Others segment.
The countries included in the report are Germany, UK, France, Russia, Spain, Italy and Rest of Europe. Key Companies profiled in the report includes Kimberly- Clark Corporation, Unicharm, Bumkins, Svenska Cellulosa Aktiebolaget Company, Hengan, American Baby Company, Procter & Gamble Company (P&G), Kao Corporation.